Uranium Royalty Corp. has agreed to acquire Sweetwater Royalties in a $1.1 billion deal that will create a new US-listed company focused on nuclear fuel investments. The transaction, announced Thursday, positions the combined entity to capitalize on growing global demand for uranium as countries expand nuclear energy capacity.

Orion Resource Partners LP, Sweetwater's largest shareholder, will retain a 43% stake in the merged company, while Ontario Teachers' Pension Plan will hold approximately 16%. The deal reflects increased investor interest in nuclear energy as governments seek reliable, low-carbon power sources. Uranium prices have risen significantly as utilities secure long-term supply contracts.

The new company is expected to list on Nasdaq under the Uranium Royalty Corp. name. This consolidation comes as the nuclear fuel market experiences renewed momentum, with multiple countries announcing plans to extend reactor lifespans and build new facilities. The acquisition strengthens Uranium Royalty's position in the sector and provides Sweetwater investors with immediate value while maintaining significant upside in the nuclear energy transition.